PPP Simplified Forgiveness

On Tuesday night, January 19, 2021, the SBA released the long-awaited Simplified Forgiveness Application (Form 3805S).  This is the application we have mentioned and have hoped would be released.  We encourage all PPP loans under $150,000 to submit your forgiveness applications at this time, if all requirements for forgiveness have been met.  

This was done in part of the new COVID-19 relief package that was signed into law allocating an additional $285 billion to fund more PPP loans and provide simplified forgiveness for existing PPP loans less than $150,000.  As a reminder, we are currently accepting current round of PPP “First Draw” and “Second Draw” applications.

Please find the following links to assist you in your forgiveness application process.

Please take time to review the application and instructions.  Once complete please submit your application to your lender directly or email us at PPP@gstbank.com.

Again, on behalf of all of us at Greater State Bank, we thank you for trusting us with the financial needs of your business.

Sincerely,

Robert A. McGurk
President & CEO